Apax Funds to acquire Benefex owner Zellis Group from Bain Capital

▤ Summary

Since acquiring the business in 2017 Bain Capital, has established a new leadership team, strengthened its core cloud-based HR and payroll offerings, and added a benefits administration software platform through the 2018 acquisition of Benefex. Benefex currently works with over 900 companies across more than 90 countries through its benefits, wellbeing, rewards and recognition, and communications platform. Zellis Group chief executive John Petter said: "We are proud of the market leading position that Zellis Group has built over recent years, a testament to the work and innovation of our team, with the strong support of Bain Capital. Todays announcement reaffirms that position and will allow us to increase our investments and expansion in the areas that are most important to our customers." Bain Capital managing director James Stevens concluded: "We are thrilled to have seen Zellis deliver 20% organic growth over the past three years and look forward to seeing continued success."

▦ Linked Companies

Benefex Group

$10M to $25M